It never hurts to arm yourself with knowledge. 

I figured it's probably pretty boring and basic stuff but I just want to make sure I'm armed with as much information as possible going into my first deal so I really appreciate your help and insight! 

You needed to be explicit to capture every thing to hold the sub to the fire if need be.

Little pieces will break off and cut your arms and legs and it will get bloody quick, speaking from experience.

Our leases make it explicitly clear that the co-signer has no tenancy rights, only financial responsibility should the tenant default on the lease. 

I have approval to start with a construction loan and then change over to a 5/1 ARM (20 years). 

Mine have 5 year ARMs so the interest rate can go up every 5 years, and in fact it has on all of my recent renewals. 

I hope you're heavily armed for the trip!  

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

You can not assign a contract to your 401k, all transactions involving your 401k must be 'arms length'.